Mar, 31, 2022 — REDSTONE FEDERAL CREDIT UNION is a federal credit union headquartered in HUNTSVILLE, AL with 37 branch locations and about $7.93 billion in total assets. Opened 71 years ago in 1951, REDSTONE FEDERAL CREDIT UNION has about 679,523 members and employs 1,228 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | REDSTONE FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 220 Wynn Dr HUNTSVILLE, AL 35893 |
| Phone: | (256) 837-6110 |
| Fax: | (256) 722-8399 |
| Website: | https://www.redfcu.org |
| Branches: | 37 branch locations |
| Members: | 679,523 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 7544 |
|---|---|
| Membership Type: | Multiple common bond - other |
| Corporate Credit Union: | No |
| Year Opened: | 1951 |
| Last Audited: | Jun 01, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $7,926,043,123 |
| CEO/Manager: | Joseph H Newberry |
| Chairperson: | Dave Hargrove |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 813,060,942 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 1,006,128 |
| Real Estate Loans | 1,286,132,927 |
| Unsecured Loans | 483,480,510 |
| Other Loans | 1,400,410,929 |
| TOTAL LOANS | 3,170,541,341 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -29,604,155 |
| Land And Building | 126,127,510 |
| Other Fixed Assets | 26,658,719 |
| NCUSIF Deposit | 59,018,465 |
| All Other Assets | 588,618 |
| TOTAL ASSETS | 7,926,043,123 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 36 |
| Notes & Interest Payable | 291,143,750 |
| Accounts Payable & Other Liabilities | 37,310,899 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 1,418,757,588 |
| Regular shares | 3,144,594,845 |
| All Other Shares & Deposits | 2,428,169,350 |
| TOTAL SHARES & DEPOSITS | 6,991,521,783 |
| TOTAL LIABILITIES | 7,319,976,468 |
| Regular Reserve | 0 |
| Other Reserves | -174,146,828 |
| Undivided Earnings | 780,213,483 |
| TOTAL EQUITY | 606,066,655 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 7,926,043,123 |
| INCOME & EXPENSE | |
| Loan Income | 38,011,014 |
| Investment Income | 13,972,651 |
| Other Income | 7,226,546 |
| Total Employee Compensation & Benefits | 25,899,596 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 25,801,335 |
| Non-operating Income & (Expense) | -55,234 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 2,873,359 |
| Cost of Funds | 3,209,058 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 25,803,777 |
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